Ask the expert

I have a bad credit score and have racked up a lot of debt. Is there an unsecured credit card with reasonable rates that you can recommend?

By Beverly Blair Harzog, CardRatings contributor

Updated, February 2, 2015

Google +

Twitter

Facebook

Question: I need a credit card that doesn't require a deposit. I have a bad credit score and have racked up a lot of debt. Is there a credit card with reasonable rates that you can recommend?

Answer: If you have bad credit, then I'm afraid your credit card options are limited. You say you don't want a card that requires a deposit (this is called a secured card).

Honestly, given the details of your situation, you might consider taking time away from credit cards and focusing on paying down your debt. As you pay down your debt, your credit score will start to recover. When your credit score is in the poor range, it's difficult to get good deals on credit cards. You could end up with a credit card with a very high APR. If you carry a balance, your debt will increase rapidly once you're paying high finance charges.

Since you feel strongly that you need an unsecured card that doesn't require a deposit, I get the feeling that you're having trouble making ends meet. This happens to a lot of people so you're not alone. If this sums up your situation, consider credit counseling. Start by contacting the National Foundation for Credit Counseling, which is a national nonprofit credit counseling network. The NFCC has member agencies around the country. They can help you develop a plan to pay down your debt and get control of your finances.

0 Responses to "I have a bad credit score and have racked up a lot of debt. Is there an unsecured credit card with reasonable rates that you can recommend?"

General Disclaimer: *See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button you can review the credit card terms and conditions on the credit card issuer's web site. Offers are subject to change without notice and the terms displayed may not be available to all consumers.

Advertiser Disclosure: Many of the credit card offers that appear on this site are from credit card companies from which CardRatings.com receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. It is this compensation that enables CardRatings.com to provide you services like access to free tools and information for consumers. CardRatings.com does not include all credit card companies or all available credit card offers. Because credit card offers change frequently, please visit the card issuer site for current information.